Azgul was a goblin that in 1447 entered into the moneylending trade. By 1450, his endeavour had developed into a full-fledged bank, known as Gringotts. Gringotts, derived from the goblin words for great (Grinlkd) and vault (gottztv), continued to grow until it became the sole bank of Wizarding Britain.

Azgul's likeness is portrayed in the Fountain of Magical Brethren.